Asia Pacific

The Commodity Futures Trading Commission has again extended no-action relief for the Shanghai Clearing House (SHCH), advocating against enforcement action for failing to register as a Derivatives Clearing Organisation (DCO).

The Bank of Queensland’s (BoQ) conditional pass through (CPT) covered bond works differently from Dutch CPTs as there is a higher likelihood of prepayment.

Sun Hung Kai Properties’ Tuesday deal proved investors are still buying fixed for life notes, despite more rate rises expected this year.

Toyota Motor Finance (China) Co priced the senior notes of its Rmb3bn ($434.5m) Glory 2017 Phase I Auto Loan Credit Asset-backed Securities on Tuesday. The deal had some rarity value as it is only the second auto ABS offered by the originator in China in three years.

Korea Water Resources Corp raised $350m on Tuesday, becoming the first corporate in the offshore market after South Korea’s presidential election, issuing just two days after North Korea tested a new missile.

FIT Hon Teng has refiled for an IPO in Hong Kong after shelving the deal last year due to poor investor demand, returning with the same three sponsors.

JP Morgan’s Rob Priestley is bowing out as CEO for Australia after a 15 year stint, according to a source familiar with the matter.

Logan Property raised a $450m bond on Tuesday, achieving its lowest yield in the international debt market. The lack of high yield paper from Chinese real estate developers and the company’s strong profitability helped drum up demand.

India’s divestment body has revealed the pitch schedules for a series of government sell-downs, each of which is set to include a mix of foreign and domestic firms vying for lead roles.

Shanghai Fosun Pharmaceutical (Group) Co has raised HK$2.3bn ($298.4m) from an overnight bookbuild after selling the entire increase option, in a trade embraced by long-only investors.

India Grid Trust has launched the country’s second infrastructure investment trust (InvIT) IPO that is worth Rp22.5bn ($351m), with anchor investors taking up 45% of the trade.

Mid-sector CNY swaps have been well offered today but Société Générale says deleveraging efforts will back more steepening across the 2s/5s NDIRS slope, writes Deirdre Yeung of Total Derivatives.